What is residual income? Residual income is getting paid for something you have sold,or signed someone up to a service, and get paid over and over again. A classic example is when you join a network marketing business and you sign someone up and there is a recurring drop shipment of goods to them. This can sometimes be very dangerous because when the person continues to receive the products but does not make any money they soon cancel the shipment and your residual will go away. But if you get enough people doing the dorp shipping method you will make a residual income.
A home based residual business opportunity that I like is in the merchant service field. We all know at least one business owner. You can help that business owner save money on something that they are already paying for and make a great residual income. But if you want to take it a step further create a team of like minded individuals that want to make a residual income.
It really doesn’t matter what company you choose. The fact remains that the only way to make a great residual income is to create a team. The only way you do that is to market yourself. Find a mentor who is willing to help you create your team. Someone who has built a team of their own. We all get excited when we hear new ideas and think this is the one. Unfortunately the statistics don’t prove that out. 97% of all networkers fail because they don’t know how to market themselves to grow their team.
Residual income can be an explosive way to earn a living. But if your not marketing yourself then it will only be average at best. It takes a long time to build up your residuals and it can mean the difference in making it and failure if you don’t build that team. I learned this the hard way. After many tries at doing a residual based company on my own, because I didn’t get the training, I failed. But I have found the one for me and after learning to market myself first, I have built a team of over 150 people.
If you want more information on how to build your team or information on a great residual income opportunity click here.
I have found out that if you are willing to learn the right way to market yourself the sky is the limit on building your team. But you have to take action and click here for more information. If your not willing to do that you probably will be in that 97% of the failing class. Not trying to be mean it is that I have been there and done that. I put my ego aside and let someone teach me how to be successful. I do not expect anything in return. I believe that if you help others it comes back to you ten fold.